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In 2012, the growth rate of the industrial sector will moderate somewhat, while overall operations will remain stable.

Release time:

2017-06-05 02:02

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On February 7, the Ministry of Industry and Information Technology held a press conference to introduce the development status of China’s industrial and telecommunications sectors in 2011 and the outlook for 2012. At the press conference, Zhu Hongren, member of the Party Leadership Group and Chief Engineer of the Ministry of Industry and Information Technology, stated that while industrial growth will moderate somewhat in 2012, the overall economy will still remain on a steady and relatively fast track. Zhu Hongren noted that the phrase “steady with progress” is the best and most accurate way to describe this year’s industrial economic performance. This phrase not only captures the current situation and the trend for this year but also sets forth the key requirement for this year’s industrial economic tasks. Speaking about this year...

　　On February 7, the Ministry of Industry and Information Technology held a press conference to introduce the development status of China’s industrial and telecommunications sectors in 2011 and the outlook for 2012. At the press conference, Zhu Hongren, member of the Party Leadership Group and Chief Engineer of the Ministry of Industry and Information Technology, stated that while industrial growth will slow down moderately in 2012, the overall economy will still remain on a stable and relatively fast track.
 
　　Zhu Hongren stated that the phrase “steady progress amid stability” is the best and most accurate way to describe this year’s industrial economic performance. This description not only captures the current situation and the trend for this year but also sets forth a clear requirement for this year’s industrial economic tasks. Regarding whether the pace of economic growth will continue to slow down this year, we need to look at last year’s industrial economic growth performance.
 
　　Zhu Hongren stated that last year, industrial output above designated size nationwide grew by 13.9%. Looking at the quarterly breakdown, industrial growth rates from the first to the fourth quarter were 14.4%, 14.0%, 13.8%, and 12.8%, respectively, indicating a clear trend of slowing growth quarter by quarter. However, examining industrial growth in the fourth quarter specifically, October, November, and December saw growth rates of 13.2%, 12.4%, and 12.8%, respectively—showing a stabilizing trend over these three months.
 
　　He pointed out that, compared with the industrial growth rates of the past two years, the industrial growth rate in 2009 was 11%, while in 2010 it was 15.7%. Therefore, the 13.9% growth rate in 2011 still falls within a stable and relatively rapid range. Given the various unstable and uncertain factors present in both the domestic and global economic environments, as well as the relatively high growth rate of industrial output in the first quarter of last year, it is generally believed that the industrial growth rate in the first quarter of this year may further slow down.
 
　　“But we’d also like to emphasize that there are some positive factors driving China’s industrial economic development—such as the expansion of domestic demand and the steady growth of investment. Moreover, the momentum behind household consumption will continue to strengthen, and our policy measures aimed at accelerating industrial transformation and upgrading will further support a stable and relatively rapid growth of the industrial economy in 2012. Therefore, although the pace of industrial growth has moderated somewhat, the overall economy will still remain on a stable and relatively fast track. This, in fact, is our interpretation of ‘seeking progress while maintaining stability,’” said Zhu Hongren.

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